deferred DISC income
Defined in 1 place of the United States Code.
The term “deferred DISC income” means, with respect to any taxable year of a shareholder, the excess of—
(i) the shareholder's pro rata share of accumulated DISC income (for periods after 1984) of the DISC as of the close of the computation year, over
(ii) the amount of the distributions-in-excess-of-income for the taxable year of the DISC following the computation year.
Source
- 1994–present26 U.S.C. § 995Internal Revenue Code · Taxation of DISC income to shareholders · for the purposes of this part